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ATS Announces Upsizing and Pricing of US$350 Million Senior Notes Offering to Fund Redemption of Outstanding 6.500% Senior Notes
ATS Announces Upsizing and Pricing of US$350 Million Senior Notes Offering to Fund Redemp...
About this update from Ats Corporation
[{"type":"text","content":"\n \n \n \n ATS Announces Upsizing and Pricing of US$350 Million Senior Notes Offering to Fund Redemption of Outstanding 6.500% Senior Notes\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n CAMBRIDGE, ON\n \n ,\n \n Dec. 14, 2020\n \n /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) (\"ATS\" or the \"Company\") today announces the upsizing and pricing of its private offering of\n \n US$350 million\n \n aggregate principal amount of Senior Notes due 2028 (the \"Notes\"). The size of the offering was increased from the previously announced offering of\n \n US$300 million\n \n aggregate principal amount of Notes to\n \n US$350 million\n \n aggregate principal amount of Notes. The Notes will be issued at par, bear interest at a rate of 4.125% per annum and mature on\n \n December 15, 2028\n \n . The offering is expected to close on or about\n \n December 29\n \n , 2020.  ATS intends to use the net proceeds from the offering of the Notes to fund the redemption of its outstanding 6.500% Senior Notes due 2023 (the \"Existing Notes\"), and to use the remainder of the net proceeds for general corporate purposes.\n \n \n \n \n \n \n \n \n \n Pursuant to the terms of the indenture governing the Existing Notes, ATS has issued a conditional notice of redemption to redeem the outstanding Existing Notes, which redemption will be conditional upon the successful completion of the offering of the Notes.\n \n \n The Notes will be offered and sold in\n \n the United States\n \n only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the \"Securities Act\"), and outside\n \n the United States\n \n in reliance on Regulation S under the Securities Act.  The Notes may be offered and sold in certain provinces of\n \n Canada\n \n on a private placement basis pursuant to certain prospectus exemptions.\n \n \n The offer and sale of the Notes will not be registered under the Securities Act and the Notes may not be offered or sold in\n \n the United States\n \n abs...